Starting July 1, North Penn taxpayers will see an increase of $113 in property taxes for the 2021-22 fiscal year, after the school board voted unanimously to approve a $291 million expense budget with a $5.2 million deficit and 2.85 percent tax increase.
North Penn aims to reap $285,852,198 in total estimated revenues, according to the budget. All school lunches will be free for 2021-22, per the budget.
The new millage rate is 27.5369, levying a total of $201,766,013 for the district. The millage rate for Bucks County property owners in North Penn School District will have a 19.77 percent reduction in real estate taxes, according to the budget.
The homestead and farmstead exclusion deduction amounts are the same, and both have increased to $213. Montgomery County residents approved for homestead/farmstead reduction can have a maximum real estate assessed value reduction of $7,735. There are 24,357 approved homesteads and seven approved farmsteads in the district.
You can apply for homestead or farmstead exclusion at this link on the Montgomery County website. To be eligible for homestead, the property must be a primary residence.
State property tax reduction allocation for homestead exclusions in North Penn is $5,189,050 for the fiscal year.
The formula taxpayers can use to calculate real property tax is: Assessment x millage = tax at face amount.
Real estate taxes are based on the assessed value of a property, which is set by Montgomery County, and the millage rate. Each of the three taxing agencies – county, municipality, and North Penn School District – have their own millage rates.
Millage, derived from the Latin root word millesimus, which means "thousandth,” is a number that stands for the amount per $1,000 used to calculate taxes on a property. The assessment is a percentage of the market value of your property.
The school district offers taxpayers a two percent discount on taxes if paid by August 31 to their respective tax collector. Taxes paid September 1 to October 31 are assessed the face value. Any taxes paid after October 31 are considered in the penalty phase and an additional 5 percent penalty fee is added to the face value. Interim taxes will be assessed 10 percent penalty.
This year, the school board approved again a six-installment plan option for all property tax owners, including businesses, in the school district. The face value of the property is split into six equal rounded payments, due by the end of each month from July to December.
School tax bills for the 2021-22 fiscal year will start hitting mailboxes after July 1.
Board Vice President Christian Fusco – who chaired the meeting in absence of school board President Tina Stoll – thanked district Chief Financial Officer Steve Skrocki for his office’s hard work on the budget.
“Thank you for all your work on this Mr. Skrocki, and your office,” Fusco said. “You put many hard hours and service into this community. It is appreciated.”
Board member Juliane Ramić, who made the first motion to accept the final budget, said she benefited greatly from the many hours of finance committee meetings.
“They are incredibly enlightening, and I appreciate all the work that goes into those,” Ramić said.
The district will continue to offer a rent/rebate program, as will the Pennsylvania Department of Revenue. To be eligible for the district program, the applicant must first receive the rebate from the state. The PA-1000 Property Tax or Rent Rebate Claim is open to property owners and renters who are either age 65 and older, or under age 65 with a spouse over the age of 65 who live in the same household, or a widow or widower between 50 to 64, or a permanently disabled and between 18 to 64 years old.
According to the budget, about $5.8 million is set aside for salaries and benefits.
Other highlights of the budget:
Enterprise funds, Skrocki said, are self-supporting via revenue generated by individuals that use the activities. Extended Care, he said, is funded by tuition paid by parents. Community Education operates through revenue raised by enrollees in programs.
“Those enterprise funds are not funded by any tax dollars whatsoever,” Skrocki said. “The goal at the end of the year is to break even.”
Superintendent Dr. Curt Dietrich was absent from the meeting, but was, according to Fusco, “providing updates from the State title game for softball at State College.”
See also:
North Penn School Board Votes To Waive Fees For Summer School Programs
North Penn High School Addresses Families After 6 Students Recently Test Positive For COVID-19
Editorial: Infrastructure Repairs At North Penn High School Are Necessary
North Penn School Board, Rep. Ciresi Discuss Charter School Reform
